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Does the BRRD affect the retail banking business model in the Euro area?

This paper discusses how the introduction of the Banking Recovery and Resolution Directive (BRRD) in European Union legislation may change the retail banking business model, which is the most prevalent model in Southern European countries. The main point is the treatment of deposits in the BRRD. Uninsured deposits may be written down or converted into equity in case of resolution of a bank. This contrasts with the treatment of other short-term liabilities, in particular repurchase agreements. Short maturity repos are excluded from the bail-in, regardless of their size. Also, liabilities related to securities lending and derivatives are given privileged treatment. It is argued that this will be an advantage for wholesale and investment banks, which use these types of short-term funding largely to finance asset purchases. Moreover, it will severely hit retail banking business models of various types by undermining the trust of depositors in the bank, causing bank runs whenever rumours circulate about financial distress situations, thus increasing its cost of funding and lowering the value of its shares. Therefore, to avoid runs on repos, runs on banks are resurging.     

Women active citizenship and wellbeing: the Italian case

The paper analyses several indicators (political participation, trade union organizations, ecological associations, voluntary and cultural activities) of active citizenship in Italy, focusing on the profiles of the activists in relation to wellbeing and gender differences. A sample of around 49,000 individuals and 19,000 families from the survey “Aspect of daily life”, collected by the Italian National Institute of Statistics in 2010 was used for the analysis. We apply multivariate statistical methods (correspondence analysis, fuzzy clustering, multidimensional scaling and regression models) to describe the sample and detect the predictors of satisfaction and trust in people.     

A Bayesian Approach to Parameter Estimation in the Presence of Spatial Missing Data

The missing data problem has been widely addressed in the literature. The traditional methods for handling missing data may be not suited to spatial data, which can exhibit distinctive structures of dependence and/or heterogeneity. As a possible solution to the spatial missing data problem, this paper proposes an approach that combines the Bayesian Interpolation method [Benedetti, R. & Palma, D. (1994) Markov random field-based image subsampling method, Journal of Applied Statistics, 21(5), 495–509] with a multiple imputation procedure. The method is developed in a univariate and a multivariate framework, and its performance is evaluated through an empirical illustration based on data related to labour productivity in European regions.     

Audience Segmentation of Kentucky Mothers by Nonparticipation Status in the Special Supplemental Nutrition Program for Women,Infants, and Children

We identify women most and least likely to discontinue participation in the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) program. Kentucky WIC program management information system data from 2012 to 2013 was explored through a retrospective cohort study. Audience segmentation identified unique groups with respect to nonparticipation. Presumptive eligibility for Medicaid was the strongest predictor of nonparticipation. Among those who were not presumptively eligible, women who were the only ones in their households enrolled in the program were at higher risk of nonparticipation. Outreach strategies at the point of enrollment or when presumptive eligibility for Medicaid is granted could mitigate further nonparticipation.     

The tension of information sharing: Effects on subsidiary embeddedness

This paper investigates the relationship between foreign subsidiary competition and embeddedness in a peripheral area of an advanced country. The study argues that pressure to innovate and unintended private knowledge spillovers compete in explaining the relationship between competition and embeddedness as a result of the tension of information sharing. Such a tension can be relaxed when accounting for subsidiaries’ competence-creating entry motives. Statistical analysis supports this argument. This study contributes to the broad IB field as well as to business network theory and to research on the creation of local linkages by MNEs. Implications for managers and policy-makers are also discussed.     

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